Paytm’s Vijay Shekhar Sharma, former SoftBank exec Rajeev Misra fund D2C footwear model Yoho

Homegrown D2C footwear model Yoho has raised Rs 20 crore in a pre-Collection A spherical led by Paytm CEO Vijay Shekhar Sharma, former SoftBank Imaginative and prescient Fund CEO Rajeev Misra, and present investor Rukam Capital, amongst others. Yoho plans to make use of the recent funds to step up its new product traces, and make investments additional in its sustainable manufacturing expertise. 

Previous to this, in 2021, Yoho had raised seed funding from Sequoia Sprouts (Sequoia Capital India’s seed fund), Kunal Shah (Founder Cred), Pankaj Chaddah (Co-founder Zomato), Gaurav Agarwal (Co-founder, Tata 1mg), Taru Kapoor (GM India SEA, Tinder), Ashneer Grover (Founder, Bharat Pe), Abhinav Sinha (COO of OYO), and a number of the opposite influential angel buyers.

Rajeev Misra, ex-CEO, Softbank Imaginative and prescient Fund, stated in a press release, “India’s potential within the shopper section remains to be comparatively untapped, particularly in fast-moving product classes. I consider Yoho will fill an enormous void within the Indian footwear market by constructing scientifically designed footwear at reasonably priced costs for discerning Indian customers. With sturdy in-house R&D, the correct value level, and a compelling product providing, I can see Yoho changing into a most well-liked snug footwear model.”

Based by Ahmad Hushsham and Prateek Singhal in 2021, Yoho has patented its trademark ‘Footpharma’ expertise and designs. It manufactures reasonably priced orthopaedic light-weight footwear, and claims to have bought over 100,000 pairs after popping out of stealth mode 4 months in the past. Previous to launching the fashions by itself web site in addition to third-party ecommerce marketplaces, the Delhi-based startup had examined virtually 700 prototypes. 

Ahmad Hushsham, Founder, Yoho, stated, “We’re extraordinarily delighted that a few of the nation’s prime buyers and enterprise leaders have proven religion in us. Ever because the inception of Yoho, our imaginative and prescient has been to create a flexible model that believes in providing snug and trendy footwear that value lower than half of those supplied by widespread international giants.”

India’s footwear market is estimated to be price $13.49 billion, and is rising at a price of 12.83 per cent, in response to a report by Maximise Market Analysis. Yoho desires to faucet into new-age, scientific, and high-performance footwear focused at millennial and Gen-Z clients. 

Archana Jahagirdar, Managing Associate, Rukam Capital (early-stage consumer-focused fund), stated, “Yoho’s focus in bringing affordability to high-quality footwear can rework the way in which customers understand the influence of the correct sort of footwear on ft well being. We’re assured of their product proposition and the strides they’ve made in such a brief span of time. The group’s ardour and data of the product class can really be a gamechanger for the footwear trade in India.”

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